Urban Renewal Authority 2018-19 Annual Report

13 MESSAGE FROM THE NEW CHAIRMAN Redevelopment, Rehabilitation and Preservation — work in parallel with equal importance As stipulated in the Urban Renewal Strategy, the URA is required to uphold the long-term objective of a self- financing urban renewal programme. This does not, however, translate into a directive of maximising profits in its operation. In fact, the URA puts much emphasis on the optimal use of resources and its full utilisation, by making use of the income generated from the redevelopment projects to fund its 5R works and to embark on strategic studies in order to explore new innovative ideas and strategies for the implementation of an integrated approach of 5R urban renewal work geared toward sustainable urban regeneration. To enhance the safety and living environment of buildings, for many years the URA has provided financial and technical assistance to owners of old buildings through various building rehabilitation subsidy schemes. Of equal importance is the awareness of owners to discharge their responsibilities to proactively maintain their own properties for longer serviceability, thereby arresting the problem of building decay. To this end, the URA has allocated additional resources to advocate awareness on building rehabilitation among owners, to enhance their capabilities in organising building repair works and to instill a culture of preventive building maintenance. The all-in-one Building Rehabilitation Platform was launched early this year to equip owners with professional and comprehensive knowledge and technical assistance on building maintenance, thereby strengthening their confidence in carrying out building rehabilitation works. Partnering with the government the URA has launched three subsidy schemes, namely Operation Building Bright 2.0, Fire Safety Improvement Works Subsidy Scheme and Lift Modernisation Subsidy Scheme. It has also added manpower resources, in particular the engagement of legal consultants to help owners of “three nils” buildings (old blocks without owner corporations, resident organisations and property management companies), examine relevant provisions governing the validity of resolutions in their Deeds of Mutual Covenants. These initiatives are designed to help building owners organise building repair works in order to protect the safety of the residents and the public. While it is the owners’ responsibility to undertake building maintenance, which cannot be taken up by the URA, our effort to provide multi-pronged assistances to owners is indispensable. Noting that public aspiration for urban renewal is more than mere demolition of old buildings and construction of new ones, the URA endeavours to preserve buildings and structures in its project sites that possess historical, cultural or architectural values, such that historical legacies and local characteristics can be passed on. In addition to preservation, the URA also incorporates the concept of “community-making” and deploys extra resources to revitalise preserved architectures and their neighbouring communities, so as to create a harmonious community environment integrated with old and new features for the enjoyment of residents. In view of a surge in the demand for subsidised housing in recent years, the URA has launched various initiatives in response to the government’s policy to help address housing needs. On the premise of a prudent financial status, the URA has assigned residential units at its Kai Tak development as Subsidised Sale Flats, as well as those in Ma Tau Wai Road/Chun Tin Street Project for sale as Starter Homes, both sold to eligible applicants at prices below market rates, underpinning the URA’s non-profit-driven business model. Despite the fact that these initiatives would inevitably reduce the expected revenue of the URA, we are pleased to shoulder this responsibility in meeting public aspiration for home ownership.